Consumer Action has provided comments on the Regulatory Impact Statement for the Retirement Villages Amendment (Records and Notices) Regulations 2013 and the Retirement Villages Amendment (Contractual Arrangements) Regulations 2013.
Consumer Action is broadly very supportive of the reforms proposed in the Regulatory Impact Statement. In particular we support the introduction of options 1a, 2a and 3a as a package. In our view the Regulatory Impact Statement has given a good description of the problems in the retirement village market and provided a sound justification for regulatory intervention.
To read our full submission click: Regulatory impact statement on retirement village contract and disclosure options.